US investors permitted
A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of Kryptono consists of four parts: general information, fees, deposit methods and security.
Kryptono is a medium-sized Singapore-based cryptocurrency exchange. Singapore is actually one of Asia’s biggest birth givers to cryptocurrency exchanges. There are SO many. If we would mention only one of them as competitor to this exchange (gun to our head), it would be Coinut.
Kryptono launched in June 2018. The exchange clearly presents information on the company owning the exchange and the people running it. Regarding the people running it, the exchange states the following:
“We are a team of blockchain developers, cryptographers, research scientists, software engineers, and experts from massive parallel computing, big data/machine learning and finance background from world-class institutions such as Harvard, Stanford, Yale, MIT, Cornell, Georgetown, UCLA and UC Berkeley.”
The liquidity at this exchange is more than OK. Kryptono is regularly among the top 40 exchanges with respect to trading volume. When writing this review (18 September 2018), Kryptono had a 24-hour trading volume of USD 32 million.
US-investors should be permitted to trade at this exchange. We have not found any information saying that they can’t trade at Kryptono. As always, however, any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.
The only thing doesn’t really convince us is the name of this exchange. When we read it, we can’t read it in any other way than “Crypto? No”, which is a doubtful message for a cryptocurrency exchange to send…
Kryptono Trading fees
At this exchange, the trading fees for takers are 0.10%. The trading fees for makers are the same, 0.10%. This means that Kryptono has what we refer to as “flat fees”. Kryptono’s flat fees are lower than the industry average. The industry average is generally around 0.25%.
The industry average taker fees and maker fees for all cryptocurrency exchanges listed in our Cryptocurrency Exchange List that are based in Singapore (WEX, Coinbene, Triple Dice Exchange, Coinut, COSS, ExcambioRex, Coinhako, FYB-SG, UEX, Cointiger, Kryptono, DragonEX, Coinhub and Tokenomy) are as follows:
Taker fee industry average in Singapore: 0.29%
Maker fee industry average in Singapore: 0.21%
Consequently, Kryptonos’s trading fees are much lower than the domestic Singaporean industry average taker and maker fees also. It’s roughly a third of the taker fees and half the maker fees.
Kryptono Withdrawal fees
Kryptono charges a withdrawal fee amounting to 0.001 BTC when you withdraw BTC. This fee is in line with industry average.
At Kryptono, you can deposit through both wire transfer and credit cards. This can be helpful especially for newer crypto investors.
One should generally look out for the different deposit fees charged by exchanges for deposit of fiat currencies via wire transfer or credit cards, and whereas it might be indifferent to you whether you should deposit via wire transfer or credit card, it might be very different fees. Some exchanges charge a deposit fee of up to a staggering 11% for credit card deposits.
Kryptono’s security score is F, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is below industry average when it comes to top crypto exchanges.
If you have concluded that this is the exchange for you, congratulations! Go for it. But if not, find the best cryptocurrency exchange site for you by using our revolutionary matching tool.